
\begin{tabular}{l c c c c c c}
\toprule
 & \multicolumn{6}{c}{Risk Reversals (pct)} \\
\cmidrule(lr){2-7}
 & (1) & (2) & (3) & (4) & (5) & (6) \\
\midrule
USD NIIP / GDP            & $1.11^{*}$ & $1.52^{***}$ &             &             &          &          \\
                          & $(0.59)$   & $(0.48)$     &             &             &          &          \\
USD Debt Holdings / GDP   &            &              & $2.56^{**}$ & $2.75^{**}$ &          &          \\
                          &            &              & $(1.00)$    & $(1.07)$    &          &          \\
USD Equity Holdings / GDP &            &              &             &             & $-0.42$  & $-0.05$  \\
                          &            &              &             &             & $(1.59)$ & $(2.05)$ \\
\midrule
Fixed Effects             &            & Month        &             & Month       &          & Month    \\
Num. obs.                 & $2363$     & $2363$       & $2363$      & $2363$      & $2363$   & $2363$   \\
R$^2$ (full model)        & $0.08$     & $0.44$       & $0.19$      & $0.53$      & $0.00$   & $0.32$   \\
R$^2$ (proj model)        & $0.08$     & $0.17$       & $0.19$      & $0.31$      & $0.00$   & $0.00$   \\
\bottomrule
\end{tabular}
